UBS has made an equity investment in UK-based fintech, Icon Solutions, aimed at advancing payment system development.
The investment round also includes contributions from existing backers Citi and NatWest.
Pieter Brouwer from UBS emphasized the partnership with Icon Solutions to deliver innovative payment solutions efficiently.
UBS, along with Citi and NatWest, will contribute to the strategic direction and development of the Icon Payments Framework (IPF).
Tom Kelleher, Co-Founder of Icon Solutions, highlighted the increasing adoption of IPF by major financial institutions for innovative payments solutions.
IPF is a development framework that allows banks to build, test, and deploy payment processing solutions proficiently while managing project timelines and costs.